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Tag: Tesla

Is Elon Musk in over his head?
Business

Is Elon Musk in over his head?

Is Elon Musk in over his head? - CBS News Watch CBS News Elon Musk, the man behind cutting-edge companies Tesla and SpaceX, recently bought Twitter for $44 billion. What followed has been a chaotic period for the social media platform, during which Musk has invited back some users who had previously been banned or otherwise restricted; fired employees en masse; and rolled back content moderation. To what end? Correspondent Luke Burbank talks with tech journalist Kara Swisher and cybersecurity expert Alex Stamos about Musk's impact on the company so far. Be the first to ...
GM’s newest business? Repairing Teslas
Business

GM’s newest business? Repairing Teslas

How car recalls get reported The National Highway Traffic Safety Administration (NHTSA) officially start car recalls after receiving complaints from consumers. General Motors dealership garages have been busy lately … fixing Teslas. Company President Mark Reuss revealed during the automaker's Investor Day presentation in New York on Thursday that GM service centers performed repairs on more than 11,000 Tesla vehicles since 2021. "So that's a growing business for us," Reuss told analysts. "It's a new business, which is great." FORD AND GM BOTH SAY THEY HAVE THE BEST-SELLING TRUCKS. SO WHO DOES? More than 11,000 Teslas were repaired at GM dealers since 2021. (Brandon Bell/Getty Images) Reuss didn't elaborate on the type of work being done on the vehicles, and GM has not responded t...
Reselling new cars suddenly comes with “absolutely insane” profit
Business

Reselling new cars suddenly comes with “absolutely insane” profit

The new trend bringing in big bucks is car flipping. Dennis Wang bought a brand new Tesla five months ago. But the offer he recently got from a dealer was too good to pass up — $101,000. Wang paid $87,000 for his new Tesla in March. "Absolutely insane! Mind blowing!" Wang said.  Eddie Gribust flipped his Tesla for $5,000 more than he paid for it. "In the last two years, I've been driving brand new cars and I have not lost a cent on them," he said.  Typically, cars lose more than 20% of their value the first year on the road, according to Edmunds.com. But since the pandemic began, used car prices are actually up 53%, according to the Bureau of Labor Statistics. "Even basic vehicles like a Honda Civic or a Toyota Camry, these vehicles are...
Twitter, Elon Musk lawsuit set for Oct. 17 court date – National
Global News

Twitter, Elon Musk lawsuit set for Oct. 17 court date – National

A Delaware judge ordered a five-day trial to run Oct. 17-21 in Twitter Inc‘s lawsuit seeking to hold Elon Musk to his US$44 billion deal for the social media platform, according to a court filing made public on Friday. Musk, the world’s richest person and chief executive of Telsa Inc, also must file any counterclaims by 5 pm ET on Friday, according to the order signed Thursday by Chancellor Kathaleen McCormick of the Delaware Court of Chancery. Read more: Twitter blames Elon Musk, weak ad market for earnings shortfall Musk’s lawyers have said he might file counterclaims, essentially his own lawsuit against Twitter, in which he could seek financial damages for the disputed deal. Trending Stories ...